📉 $XRP fell by 10% in 24 hours, from $3.55 to lows of $2.96 – is it a rebound point?
📊 Current price and clear technical structure
XRP is trading between $2.96 and $3.18, with a closing approximately at $3.10 after a strong drop from the recent high (~$3.55).
The movement formed an intraday descending channel, with obvious oversold signals and the formation of higher lows from $2.96 to $3.11, suggesting the start of a technical reversal.
⚙️ Key factors
In just one day, 75M XRP were sold on Upbit, which generated liquidations of $89.7M in long positions as stop-losses were activated in leveraged markets.
The liquidations extended losses of 8–10% in the session, although the support around ~$3.10 was strongly defended by institutional forces.
Additionally, the lack of a vote from the SEC on withdrawing its appeal against Ripple keeps regulatory uncertainty alive and pressures the ETF outlook, limiting the immediate rebound.
🔧 Technical level of the day
📌 Key support: $2.96–$3.10 (intraday lows + accumulation zone)
📌 Immediate resistance: $3.23–$3.26 (previous technical reinforcement)
🎯 Critical zone: surpassing $3.15–$3.18 would activate a rebound towards $3.30–$3.50; however, losing $2.96 could open the way to $2.70–$2.80.
🌐 Institutional outlook / macro view
Despite the sudden dumping, institutional flows continue to enter on purchases over support — indicating silent accumulation. Technical analysts maintain targets from $4 to $6 in scenarios of ETF legalization and withdrawal of appeals by the SEC.
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